Your Closing Costs

All residential real estate transactions incurs certain fixed costs. Buyers and sellers usually split these costs, as specified in the sales contract.

As you'll see below, many of the buyer's closing costs are related to the costs of getting the loan. At BeneGroup, Inc., we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on BeneGroup, Inc.'s experience with mortgage loans, but costs usually vary a little bit between delivery of the Loan Estimate (LE) and closing. We explain Loan Estimates with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.

Below you'll find a fairly general list of closing costs. We will provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Costs related to "originating" your loan
• Points — lower your interest rate (optional)
• Appraisal Costs
• Getting Your Credit Report
• Up-front Interest Payment
• Escrow Account
• Taxes

Property Taxes

• Insurance
• Transfer Taxes & Recording Fees

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood / Earthquake Insurance

BeneGroup, Inc. can help you understand closing costs. Call us at 4083956018.